Asamblea General de Georgia · Texto completo

SB 24: Ad Valorem Taxation of Property; extension of preferential assessment periods for certain historic properties; provide

Versión Introduced, la más reciente que tiene LegiScan · Última acción: 12 de enero de 2026 · Introduced

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Senate Bill 24

By: Senators Burns of the 23rd, Hufstetler of the 52nd, Hodges of the 3rd, Kennedy of the 18th, Brass of the 6th and others

A BILL TO BE ENTITLED

AN ACT

To amend Article 1 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to general provisions relative to ad valorem taxation of property, so as to provide for an extension of preferential assessment periods for certain historic properties; to provide for related matters; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

Article 1 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to general provisions relative to ad valorem taxation of property, is amended in Code Section 48-5-7.2, relating to preferential assessment for rehabilitated historic property, by revising paragraph (4) of subsection (h) as follows:

"(4) The expiration of nine years during which the property was classified and assessed as rehabilitated historic property; provided, however, that any such property may qualify thereafter as rehabilitated historic property if such property is subject to subsequent rehabilitation and qualifies under the provisions of this Code section; provided, further, that, if approved by the governing authority of the county, the classification and assessment under this Code section may continue for a period of up to an additional 12 years for income-producing real property."

SECTION 2.

Said article is further amended in Code Section 48-5-7.3, relating to preferential assessment for landmark historic property, by revising subparagraph (e)(1)(E) as follows: "(E) The expiration of nine years during which the property was classified and assessed as landmark historic property; provided, however, that any such property may qualify thereafter as landmark historic property if such property is subject to subsequent rehabilitation and qualifies under other portions of the historic properties tax incentive program contained within the provisions of this Code section; provided, further, that, if approved by the governing authority of the county, the classification and assessment under this Code section may continue for a period of up to an additional 12 years for income-producing real property."

SECTION 3.

All laws and parts of laws in conflict with this Act are repealed.